Key takeaways:
During a global recession, the global gross domestic product contracts, and simultaneously, several global economic activities grow weak.
Over the past seven decades, the whole world has observed not just one but five global recessions.
The first global recession occurred in 1975, then in 1982, 1991, 2009, and most recently in 2020.
Introduction
Since the beginning of the great economies that exist even to this day, we have witnessed a sort of deterioration. Though it usually goes unnoticed at first, the tightening of financial conditions could give rise to an event on a global scale very quickly. That global-scale event is what we call a global recession.
It is one of those burning topics that needs your attention. The goal behind understanding what a global recession is is to know how to avert it or, if anything, survive it. A global recession is a severe financial crisis experienced all over the globe that comes with devastating consequences.
The true meaning of globa
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